Have you evah wondered whether companies are just plum out of cash? Well, you’d be wrong:

The Federal Reserve said in a quarterly snapshot of financial flows Friday that U.S. companies continued to accumulate profits instead of spending them. Holdings of cash and other liquid assets at nonfinancial companies rose to $2.047 trillion in April through June, up 4.5% compared to the first quarter. That was the highest level since the series began in 1945.[emphasis added]

   So, let’s see if we can get this story straight. Millions of people have no work, poverty is at record levels–and yet the whores who created the mess we’re in won’t spend money to hire people. The mess they created by the way is not just the most recent collapse because of the financial crisis but a mess which has a history of 30 years of shoveling money into the pockets of CEOs while wages for workers stayed flat.

   And the scam is a perfect one: they continue to pay CEOs millions of dollars in pay and benefits, and they run to Congress screaming, "oh, please get rid of those terrible regulations that stop us from making money and, while you are at it, give us a tax holiday so we can bring all the money we have stashed overseas".

   The only truly sorry part of this scam is that most elected officials play right into the story line.